UTRECHT, Netherlands, April 04, 2022 (GLOBE NEWSWIRE) -- Stichting Depositary Plethora Precious Metals Fund (“Plethora”) announces that on March 31, 2022 it has acquired, by way of private placement, 5,000,000 Units of Bitterroot Resources Ltd. (the “Company”) at a price of $0.10 CAD per Unit, for gross proceeds of $500,000 CAD (the “Transaction”). Each Unit consists of one common share (a “Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each whole Warrant is exercisable into a Share at a price of CAD $0.20 expiring on March 31, 2024. The Transaction resulted in the acquisition of more than 20% of the issued and outstanding common shares of the Company by Plethora.
Prior to the Transaction, Plethora owned 8,600,000 Shares of the Company and 4,200,000 Warrants of the Company, representing 10.69% and 15.12% of the Company’s issued and outstanding common shares on an undiluted and partially diluted basis respectively. Following the Transaction, Plethora now owns or controls an aggregate 13,600,000 common shares, and 6,700,000 common share purchase warrants, representing 21.32% of the Company’s issued and outstanding common shares on a partially diluted basis. On an undiluted basis, Plethora’s ownership after the Transaction represents 15.36% of the Company’s issued and outstanding common shares.
In satisfaction of the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of securities by Plethora will be filed under the Company’s SEDAR Profile at www.sedar.com.
The Transaction was completed for investment purposes. Depending on market and other conditions, Plethora may from time to time in the future increase or decrease their ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise.
Plethora is incorporated under the laws of the Netherlands and its head office is located at Prins Hendriklaan 26, 1075HD, Amsterdam, Netherlands. The principal business of Plethora is a Management Fund.
For information, please contact:
Douwe van Hees- Fund Manager
Prins Hendriklaan 26
Phone: +3 16 14 51 46 92
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.